The City of Canyon will hold two public hearings this month to gather community input on the proposed 2025–2026 budget and the city’s proposed property tax rate.
The hearing on the annual budget is scheduled for Aug. 12, and the hearing on the proposed tax rate will be held Tuesday, Aug. 19 at 4:30 p.m. at 301 16th Street, Canyon, TX, city officials said.
The City Commission last week moved forward with a proposed property tax rate of $0.51181 per $100 of taxable value for the upcoming fiscal year. That figure represents an increase of $0.10170 from the current rate — roughly a 25% rise. According to city documents, $0.08765 of that increase is earmarked for debt service (the cost of repaying borrowed money), including the first installment on a $14 million Public Safety General Obligation Bond approved by Canyon voters in May 2025.
City finance documents show the debt service portion of the budget is expected to grow substantially, from about $400,000 this year to an estimated $1.4 million next year. The proposed tax rate is projected to generate an additional $1.4 million in property tax revenue, with roughly 77% of that new revenue applied to debt service payments.
Finance Director Joel Wright emphasized that the commission must hold a public hearing before the rate can be officially adopted, in keeping with applicable procedures.
The City Commission voted 4–1 to advance the proposed rate; Commissioner Paul Lyons cast the lone dissenting vote. After the two public hearings, the commission will consider public feedback before voting to adopt the final budget and tax rate, as required by state law.
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